Apple named world’s most valuable brand

Apple CEO Tim Cook at the launch of the new iPhone 5S. Picture: Getty

APPLE, the company behind the iPhone and iPad, has been named the most valuable brand in the world in an influential report.

The California-based technology giant topped the annual Best Global Brands report from consultancy firm Interbrand, with its estimated value rising 28% in the last year after the launches of the iPhone 5C and 5S.

Apple is valued at $98.3 billion (£60.8bn) in the report, with fellow technology giant Google in second place with an estimated value of $93.3bn (£57.7bn). The two companies are the dominant players in the global computing and smartphone markets, with Apple’s iOS doing battle with Google’s Android system.

Coca-Cola, which had topped the rankings in Interbrand’s annual top 100 for the 13 previous editions, is in third place with an estimated value of $79.2bn (£49bn).

Interbrand CEO Jez Frampton said: “Every so often, a company changes our lives—not just with its products, but with its ethos. This is why, following Coca-Cola’s 13-year run at the top of Best Global Brands, Apple now ranks #1.

“(Apple CEO) Tim Cook has assembled a solid leadership team and has kept Steve Jobs’ vision intact – a vision that has allowed Apple to deliver on its promise of innovation time and time again.”

Interbrand’s report ranks the world’s top brands by their financial performance, role in influencing consumer choice, and their ability to command premium prices.